Barrick Mining Q2 Earnings Meet Estimates, Sales Up on Higher Prices

Barrick Mining Corporation B recorded profits (on a reported basis) of $811 million or 47 cents per share for second-quarter 2025, up from $370 million or 21 cents per share in the year-ago quarter. 

Barring one-time items, adjusted earnings per share were 47 cents. The figure was in line with the Zacks Consensus Estimate.

Barrick recorded total sales of $3,681 million, up 16.4% year over year.

B’s Operational Highlights

Total gold production was 797,000 ounces in the reported quarter, down around 15.9% year over year. The average realized price of gold was $3,295 per ounce in the quarter, up around 40.6% year over year. 

The cost of sales increased around 14.8% year over year to $1,654 per ounce. All-in-sustaining costs (AISC) moved up 12.4% to $1,684 per ounce in the quarter.

B’s Financial Position

At the end of the quarter, Barrick had cash and cash equivalents of $4,802 million, up 19% year over year. The company’s total debt was $4,729 million at the end of the quarter, flat year over year.

The operating cash flow was $1,329 million for the quarter, whereas the free cash flow was $395 million.

B’s Guidance

For 2025, Barrick continues to anticipate attributable gold production to be in the range of 3.15-3.5 million ounces.

AISC is projected to be $1,460-$1,560 per ounce for 2025. Cash costs per ounce are forecast to be $1,050-$1,130. The company also expects to see a cost of sales of $1,460-$1,560 per ounce.

Barrick expects a copper production of 200,000-230,000 tons at AISC of $2.80-$3.10 per pound, cash costs per ounce of $1.80-$2.10 and cost of sales of $2.50-$2.80 per pound.

Total attributable capital expenditures are projected in the range of $3,100-$3,600 million for 2025.

B’s Zacks Rank & Other Key Picks

B currently carries a Zacks Rank #1 (Strong Buy).

Other top-ranked stocks worth a look in the basic materials space include Avino Silver & Gold Mines Ltd. ASM, Gold Fields Limited GFI and Vizsla Silver Corp. VZLA.

Avino Silver is slated to report second-quarter results on Aug. 13. The Zacks Consensus Estimate for earnings is pegged at 3 cents per share. ASM’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, with the average surprise being 104.2%. Avino Silver flaunts a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Gold Fields is slated to report second-quarter results on Aug. 22. The Zacks Consensus Estimate for GFI’s second-quarter earnings is pegged at 59 cents per share. Gold Fields currently sports a Zacks Rank #1.

Vizsla is expected to report quarterly results on Sept. 11. The consensus estimate for VZLA’s earnings is pegged at a loss of a penny per share. VZLA’s earnings met the Zacks Consensus Estimate in three of the last four quarters while beating it in one, with the average surprise being 75%. Vizsla sports a Zacks Rank #1 at present.

 

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This article originally published on Zacks Investment Research (zacks.com).

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